Results 8,021-8,040 of 16,537 for speaker:Brian Lenihan Jnr

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: I will certainly raise that question with them.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: The fiscal elements of the package are contained in the Finance Bill before the House currently, other than those regarding intellectual property. I signalled in my budget speech that I intended to bring forward proposals on that next year.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: The general principle, as has always been the practice, is contained in section 542 of the Taxes Consolidation Act 1997 where the compulsory purchase order was confirmed before 15 October but the local authority had not agreed compensation with the owner of the land or entered on the land by that date. That is the case identified. The general principle, as set out in section 542 of the Taxes...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: Under the arrangement, the landowner who happens to be a farmer is at an advantage in that there is no obligation to pay the CGT when the land is taken. In that sense, there is an extension of a facility to that landowner as against any other class of landowner in the interim period.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: No. It is an entire liability which is deferred under the operation of this section. The fact that the rate increased this year means it is at the higher rate, which can happen in any financial legislation. The fundamental point is that the landowner who happens to be a farmer can defer his liability under this section. I am advised that the rate of tax does not affect the amount of...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: The Finance Act 1993 introduced a VRT repayment system for the short-term car hire sector — that is, cars hired on contracts for 35 days or less. The purpose of the scheme was to address shortages in the supply of cars for hire within the tourism industry at that time. The effect of the repayment scheme is that a car is effectively free of VRT for the period it remains in the car hire...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: There is a full three-year period and in the circumstances that is adequate.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: On Deputy O'Donnell's question in respect of the inquiry, I have asked the Revenue Commissioners and the Central Statistics Office, CSO, to examine the question of the loss to the Exchequer arising from cross-Border shopping. Officials from Revenue and the CSO met yesterday to consider how best this task can be undertaken. The difficulties involved in trying to accurately estimate the...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: Equally, the Deputy suggested that I caused a flight of shoppers across the Border.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: The widening differential between sterling and the euro is the fundamental reason people are travelling to shop in Northern Ireland. I never appealed to people's sense of patriotism in order to encourage them to shop at home. However, I have stated that if they shop at home, they will support their local economy and tax base. I have never made any secret of that. The euro-sterling...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: I expect to receive the report of the Revenue Commissioners and the CSO in respect of this matter by the end of February.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: As a result of the detailed assessment that must take place in order to arrive at a figure which will be informative.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: Yes, that is what the Revenue Commissioners have advised.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: In light of our current fiscal and budgetary position, it would be useful to have this sum at my disposal. I am not sure it would be any more useful to have it at my disposal at the end of 2010. The position is that the sums are credited to a designated account maintained by the Central Bank and Financial Services Authority of Ireland as a reserve for any payments to be made under the...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: On a point of order, I am obliged to read a note into the record before Fifth Stage of the Bill is taken. There is a closure motion before the House. Perhaps the Leas-Cheann Comhairle could provide guidance on the procedure in this regard.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: I was instructed to read this note prior to Fifth Stage. It relates to an amendment to be made on page 93, line 9 requiring that "or" be replaced with "for". I understand I must request the Leas-Cheann Comhairle to instruct the Clerk to make the necessary correction.

Written Answers — International Monetary Fund: International Monetary Fund (17 Dec 2008)

Brian Lenihan Jnr: The IMF has not announced a Balance of Payment assistance package for Latvia. However, the IMF has indicated that Latvia is experiencing a sharp downturn in output growth and external funding pressures and that accordingly the Latvian authorities have asked the Fund, together with the EU, to provide technical and financial support. Under Council Regulation 332/2002, the EU can grant...

Written Answers — Counterfeit Currency: Counterfeit Currency (17 Dec 2008)

Brian Lenihan Jnr: Information on euro banknote counterfeiting is published biannually by the European Central Bank (ECB) in January and July. The following table published by the ECB on 10 July 2008, indicates the half-yearly trend in the number of counterfeits recovered: Period 2003/2 2004/1 2004/2 2005/1 2005/2 2006/1 2006/2 2007/1 2007/2 2008/1 1000s 312 307 287 293 286 300 265 265 296 312 Number of...

Written Answers — Road Traffic Offences: Road Traffic Offences (17 Dec 2008)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that Section 131(6)(a) of the Finance Act 1992 provides that the identifying mark (i.e. the registration number) assigned to a vehicle, once registered in the State, must be displayed in the format prescribed by the Revenue Commissioners. Under section 139 of the Finance Act 1992 (as amended), the display of an identification mark (number plate) in...

Written Answers — Tax Code: Tax Code (17 Dec 2008)

Brian Lenihan Jnr: The position is that the income levy will apply to gross income but this excludes social welfare payments and the contributory and non-contributory State pensions.